ICICI Prudential Life Insurance Company Ltd - Positional Trade

Date: 13-May-2024
Rating: Buy - Positional Trade
LTP: Rs. 597.30
Targets: (1) Rs. 640 --> (2) Rs. 680 --> (3) Rs. 724
SL: Rs. 545 on daily close basis

Technical View:
ICICIPRULI is in its primary uptrend and is currently going through it's secondary uptrend.
• After re-testing the current secondary uptrend line on 29-Apr-2024, It has again started the upward journey.
ICICIPRULI has also closed above 20 DMA, 50 DMA and 21 DEMA on 10-May-2024.
• RSI crossed over 50 on 10-May-2024 and is trading at 56.10
• MACD crossed over signal line on 13-May-2024 and is trading at -0.56 which is about to cross over the 0.
• Looking good to continue the upward journey.

Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. Ideas are published for learning purpose only.

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